The McKinney City Council approved a sizable rezoning on land owned by the Billingsley Corporation. Billingsley has developed several properties across Dallas-Fort Worth, including Austin Ranch, Cypress Waters in Coppell, Beacon Square in Plano and Sloan Corners in Allen. In total, Billingsley owns more than 7,600 acres of land in the Dallas-Fort Worth area.
The rezoning of 786 acres is for a mixed-use development. The project, called Huntington Park,is between Bloomdale and Wilmeth roads, with 175 acres earmarked for commercial development. If it’s built out as planned, it could amount to a $2 billion investment.
Current zoning calls for 24 acres of commercial zoning. New zoning would bring 92 acres of multifamily housing, 63 acres of open space and 375 acres of single-family housing.
Greystar has plans to build a 340-unit apartment complex in Chamblee. The company spent $11.5 million on 7 acres at 5220 Peachtree. Chamblee officials selected the two firms in 2024 to pursue the project that was previously on city land. The Downtown Development Authority was the seller. The Atlanta Business Chronicle reports that Greystar is...
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Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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